«Yandex» will Buy Uber's Shares in It's Services for $1 Billion
OREANDA-NEWS. The «Yandex» company has decided to completely buy out Uber's shares in «Yandex. Food», «Shop» and «Delivery». The company will increase it's share in the «Yandex.Taxi». The transaction amount will be $1 billion. It has been approved by the boards of directors of both companies and should be closed by the end of this year. This is stated by the press service of the «Yandex».
It is planned to accelerate the pace of business development in the fast-growing e-commerce and food technology market due to closer integration of services and simplification of management processes, the report says.
«Yandex» will buy 4.5% of the shares from Uber, after which the share will increase to 71%. In addition, according to the company, it has about 170 self-driving cars. The company sees a great potential for the growth of this segment in the long term, including on an international scale.
Earlier it was reported that the «Yandex» company raises taxi prices from August 25, the increase will affect the «Economy» tariff and some others. Drivers have been warned about the new conditions of passenger transportation.